Eagle Royalties Ltd. has received formal notice from Eagle Plains Resources Ltd. that EPL has significantly expanded the land package comprising the 3,871 ha Schotts Lake project located in east-central Saskatchewan approximately 40km northwest of Flin Flon Manitoba. The property has been expanded by 1,069 ha through staking, which has added approximately 27% more area which contains important geological and structural trends defined by recent work on the property. Schotts Lake contains an historical copper-zinc resource and is considered a royalty asset by Eagle Royalties.

Eagle Royalties holds a 2% Net Smelter Royalty on 15 of the 18 dispositions that comprise the property. The Schotts Lake property hosted metamorphic and intrusive rocks which are dominantly volcanic in origin and associated with an island arc environment. The rocks are folded into an easterly-dipping synform.

Mineralization was first discovered in 1953 by Kay Lake Mines. A total of 79 drill holes have been completed for a total of 9,516m (31,200') and a historical resource of 1,983,850 tonnes grading 0.61% copper and 1.35% zinc (Aur Resources, 2003- SDMI 0320). Notably, the historical resource did not include precious metal enrichment and/or cobalt.

Mineralization at Schotts Lake consists of semi-massive to massive pyrrhotite and pyrite with associated chalcopyrite (copper) and sphalerite (zinc). The Schotts Lake deposit is interpreted to be a typical exhalative volcanogenic massive sulphide ("VMS") zone. The mineralized zone has an average thickness of 20.4m, is overturned and lies on the eastern limb of a major north-easterly plunging fold.

The deepest mineralized intercept is at a vertical depth of 266 meters, with mineralization open to depth. Compilation work completed by Eagle Plains resulted in the recognition of gold-rich mineralization in certain areas of the property, with results of up to 18.66 g/t Au over 1.86m reported in drill hole SL1955-19 (Mineral Assessment Work 63M- 001). Recent exploration activity by Eagle Plains in 2021 consisted of a ground-based electromagnetic ("EM") survey over 6.5 line-kms, covering known mineralization and surveying of areas of high potential.

This work was followed up in 2022 with soil sampling, lithogeochemical sampling and geological mapping on high-priority EM targets. Comprehensive geophysical modelling of all geophysical data including a high-resolution 2008 VTEM survey was subsequently completed, identifying additional drill targets with the objective of expanding the current resource.